New collateralized loan arrangements could also be attractive to private Western creditors, despite non-repayment of most Soviet debt.

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Third, it's unwise to invest in vehicles like collateralized debt obligations and collateralized loan obligations that you don't understand.

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Perhaps the most dangerous structured finance product of the last decade, collateralized debt and collateralized loan obligations are making a comeback.

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In seeking to achieve its investment objective, the Fund will invest in senior secured loans, high yield corporate bonds and investment grade-rated collateralized loan obligations.

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Tilton has built a formidable fortune using collateralized loan obligations (CLOs) to finance the purchase of distressed middle market loans from bank portfolios.

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The original idea was to sell both loans in pieces to investors such as hedge funds, other banks and collateralized loan obligations, special funds set up to invest in loan deals.

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But Tilton says her CDOs (which are actually CLOs, or collateralized loan obligations) are structured so they don't have to sell defaulted or low-rated assets for up to 15 years, while they recover.

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They get paid promptly through a bank loan collateralized by the receivable.

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